[lvoc]

Originally Posted by tbill618

I have noticed a number of short sales in 89052 have come back on the market. The buyers might have gotten tired of waiting or perhaps they put in multiple bids with the idea of taking the first. That last strategy doesn't make a lot of sense to me. All short sales take some time, why not be patient and see if the sellers are compliant. A bad seller who is not getting documents in on time will become apparent very quickly. Plus multiple bids equal multiple earnest money deposits. I am two months into the short sale process with very little idea how close we are to closing besides guesses by the agents so I can understand why someone would get frustrated. Here are some of those houses.

1420 EUROPEAN Dr, Henderson, NV 89052 | MLS# 1217588

Classical short. Ready to go and buyer quit. Been $325K since January. I have not seen it but I would suspect a best buy. Happens.

2397 STANSBURY Ct, Henderson, NV 89052 | MLS# 1247197

NOt a short. Overpriced. That is why no FHA or VA which require an appraisal.

511 DESERT SUMMIT Ct, Henderson, NV 89052 | MLS# 1220328

Smells of a bank counter at a higher price. Could just be opportunism but that makes little sense. Note they are claiming bank approval at list.

3053 EVENING WIND St, Henderson, NV 89052 | MLS# 1258327

Again smells of a bank counter at a higher price. Buyer quit.

Without doing any real work I would chase the first and then the last.

[eventusstultorummagister]

^^^
1420 EUROPEAN Dr, Oct 03, 2002 Sold (Public Records) $330,160

3053 EVENING WIND St, Jan 31, 2002 Sold (Public Records) $232,000

Those homes last sold in '02, why are they in distress? What happened to the break even point? This casts doubt on all the buying is better than renting arguments.

[lvoc]

Originally Posted by eventusstultorummagister

^^^
1420 EUROPEAN Dr, Oct 03, 2002 Sold (Public Records) $330,160

3053 EVENING WIND St, Jan 31, 2002 Sold (Public Records) $232,000

Those homes last sold in '02, why are they in distress? What happened to the break even point? This casts doubt on all the buying is better than renting arguments.

It actually say Real Estate is not a piggy bank...an entirely different thing..

Though use of your home as a piggy bank is sometimes necessary. It is a common reserve for when the S hits the fan.

Nothing to do with the renting argument. Try borrowing $100,000 against your lease some time.

[eventusstultorummagister]

Originally Posted by lvoc

It actually say Real Estate is not a piggy bank...an entirely different thing..

Though use of your home as a piggy bank is sometimes necessary. It is a common reserve for when the S hits the fan.

Nothing to do with the renting argument. Try borrowing $100,000 against your lease some time.

So these people made poor personal decisions and now they're getting bailed out... why?

I can understand job loss or major medical catastrophe, however, poor money management skills should not be criteria for release from one's responsibilities, don't you agree?

The system is corrupt.
period.

BTW, I have no need or desire to borrow money.

[SportyandMisty]

Originally Posted by eventusstultorummagister

I thought that the babyboomers were "downsizing"...
why would they need 2500-3000 sq ft???

Younger generation is not buying, their credit is shot and/or they have too much student loan debt load.

This just does not compute.

Baby boomers don't "need" 2500-3000 sf. Many of us "want" at least that much. We upsized in retirement. Why? Master bedroom, big "her" closet, normal "his" closet, media room, game room, "his" office, "her" office, exercise room, party deck, formal living room, 2 guest bedrooms, casita, large family room, large formal dining room, arts/crafts room, equipment rooms, wine cellar, etc.

A big house is just fun.

[SportyandMisty]

Originally Posted by tbill618

Watch the dollar and commodities. If the dollar starts fallen precipitously then the Fed will have to back off QE3...

I'm not so sure about that. By devaluing the dollar, the Fed increases the competitiveness of the US manufacturing base and increases exports.

Originally Posted by tbill618

Also, if oil starts rising because oil is priced in dollars. QE debases the currency but everyone is debasing their currency...

For several years there has been discussion of repricing crude oil to Euros, then the EU started to melt... lately there has been discussion of repricing crude to a marketbasket of currencies... It is reasonable to say all of this is just talk & not likely to translate into action in the world, but you never know.

Originally Posted by tbill618

... The only reason QE doesn't cause huge inflation is because of asset price deflation. ...

I've never understood this concept of "asset inflation" (or deflation) in contrast to price inflation (deflation). I don't think this concept (or non-concept) adds any value to the discussion, but that's just me.

[SportyandMisty]

I thought I'd post a link to an interesting academic paper on real estate that I stumbled across. It is an approach I had never thought of - one of those "whack on the side of the head" moments for me.


Genetics, homeownership, and home location choice ... , Journal of Real Estate Finance and Economics 45, 1-33. (Lead article.)

https://8790b2f5-a-62cb3a1a-s-sites....elSiegel12.pdf

[WestieJeff]

We just had our 89052 short sale approved a couple days ago. It however, will be back on the market shortly since the lot had RV parking (one of few in Anthem), but I just talked to the Coventry HOA and they said no RVs allowed other than loading/unloading (with prior permission only) even if the side yard/gate is present. That's a no-go for us, so we asked for a cancellation.

It was 2403 Stansbury. It got approved at 270k (list price), no closing cost help. The house is a bit beat up though. Pool needs work, paint, carpet, cleaning, drywall repairs, baseboards, etc.

Took 3 1/2 months to get the approval.

Originally Posted by tbill618

I have noticed a number of short sales in 89052 have come back on the market. The buyers might have gotten tired of waiting or perhaps they put in multiple bids with the idea of taking the first. That last strategy doesn't make a lot of sense to me. All short sales take some time, why not be patient and see if the sellers are compliant. A bad seller who is not getting documents in on time will become apparent very quickly. Plus multiple bids equal multiple earnest money deposits. I am two months into the short sale process with very little idea how close we are to closing besides guesses by the agents so I can understand why someone would get frustrated. Here are some of those houses.

1420 EUROPEAN Dr, Henderson, NV 89052 | MLS# 1217588

2397 STANSBURY Ct, Henderson, NV 89052 | MLS# 1247197

511 DESERT SUMMIT Ct, Henderson, NV 89052 | MLS# 1220328

3053 EVENING WIND St, Henderson, NV 89052 | MLS# 1258327

[lvoc]

Originally Posted by WestieJeff

We just had our 89052 short sale approved a couple days ago. It however, will be back on the market shortly since the lot had RV parking (one of few in Anthem), but I just talked to the Coventry HOA and they said no RVs allowed other than loading/unloading (with prior permission only) even if the side yard/gate is present. That's a no-go for us, so we asked for a cancellation.

It was 2403 Stansbury. It got approved at 270k (list price), no closing cost help. The house is a bit beat up though. Pool needs work, paint, carpet, cleaning, drywall repairs, baseboards, etc.

Took 3 1/2 months to get the approval.

YOu should check what the CC&Rs actually say. I had the experience in one case where the HOA flatly lied...I suspect because they did not know what the truth was. If your CC&Rs allow an RV to park there or even suggest it is possible you may be out of reach of the HOA. They cannot change your CC&Rs without your agreement generally. It is possible to change CC&Rs but it happens very seldom. They just change the rules and act like it over-rides. It does not.

If it is in your CC&Rs you then need a lawyer discussion.

[WestieJeff]

I actually drove down to the recorder's office where all the CC&Rs are filed and checked it myself, just in case the HOA rep was incorrect. However, it was explicitly in there just as they stated.

Not worth fighting, just find a different place. Based on the condition of the house, it wasn't exactly a "deal" anyways.

Originally Posted by lvoc

YOu should check what the CC&Rs actually say. I had the experience in one case where the HOA flatly lied...I suspect because they did not know what the truth was. If your CC&Rs allow an RV to park there or even suggest it is possible you may be out of reach of the HOA. They cannot change your CC&Rs without your agreement generally. It is possible to change CC&Rs but it happens very seldom. They just change the rules and act like it over-rides. It does not.

If it is in your CC&Rs you then need a lawyer discussion.